Fees from credit cards, which represents the largest component paid by households, increased by 5.9%, driven by a rise in the number of cards on issue and more foreign exchange conversion charges.

Total fees from housing loans decreased, mainly because of fewer penalty charges and strong competition between banks.

Fees collected from businesses grew 3.5% to $7.791 billion.

The Reserve Bank’s annual bank fee survey provides information on the fees earned by banks through their Australian operations through the provision of loans, deposit services and payment services.

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